I used to own Primecap Odyssey Growth, POGRX, influenced a bit by Morningstar's Gold rating. If you look at past performance for about 4 years, POGRX should get a Moldy Tuna Sandwich rating ( I came up with that rating). Compared to the index and similar funds, POGRX has done very poorly for a long time. What is the Morningstar analyst thinking to give this fund a gold rating? Do you have overall confidence in Morningstar forward looking Gold, Silver, Bronze ratings for mutual funds?
“Do you have overall confidence in Morningstar forward looking Gold, Silver, Bronze ratings for mutual funds?”
None whatsoever. These are subjective and based on who knows what (or who knows whom).
M* Star ratings [5*, 4*, etc] are different from Analyst ratings [Gold, Silver, etc].
1*, 2* are bottom of the performance barrel, so be careful with them.